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Steve16355
March 4, 2021
Question

Daily sales receipt for a restaurant.

  • March 4, 2021
  • 1 reply
  • 0 views

How to set up a Daily sales receipt for a restaurant in Canada. Not sure how to handle electronic tips paid out daily in cash to my team and how to input HST correctly to balance the sales receipt to zero. Really need help, please.

1 reply

LeithG
LeithG
March 4, 2021

Hi Steve

 

Should be as follows:

 

Credit sales: the amount of the sales

Credit Taxes: payable amount of GST/HST to the government (in QBO, typically determined by the taxable flag rather than as a separate transaction/line).

Credit tips payable: the amount of tips obtained from the customers

Debit cash: the amount of money (cash, credit card slips, etc)

 

End of day your tip cash out should zero out the tips payable (debit tips payable), credit cash

 

Make sense?

9130 3491 8700 9166
April 1, 2021

Should the tax line for tips on a sales receipt be out of scope or exempt?  Should tips received by customers show as revenues?

LeithG
LeithG
April 1, 2021

The tips should generally be considered out of scope if they are company managed and appear on the bill (eg service charge).  Similarly, tips appearing on the bill for things like service charge are considered revenue for the company, but are paid back out as an expense.  You can see more about this from Revenue Canada:

https://www.canada.ca/en/revenue-agency/services/tax/canada-pension-plan-cpp-employment-insurance-ei-rulings/cpp-ei-explained/tips-gratuities.html

 

Hope this helps!

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